Borrowing limitations

[Raven01]

Guesses on when borrowing limitations will end?

I am five points short for December 2021. Ideally borrowing restrictions will end. I can also do OTU points if necessary, but am trying to avoid it. I doubt ?I can get a transfer for that small amount.

 

[sethschroeder]

Maybe 2022.... maybe

It really comes down to what things look like and how many points are getting banked in to future years. The more people bank the longer before borrowing returns to normal.

 

[lundve]

I bet you’ll have to buy them...

Do y’all think those limitations will continue to be in place for non theme park resorts such as Hilton Head, Vero and Aulani. You’d think they wouldn’t need restrictions at those places as much..

 

[Sandisw]

I think we will see them at least a year. Just remember that OTU points can not be bought until the 7 month window, so it might be difficult still getting that extra night given how popular December is for members to book.

 

[Raven01]

I'm set to pop down in March too. I can either drop a night and do 4 nights, or buy the OTU points for that trip. Florida is a bit of a drive, though, so if I go i would like to have 5 full nights.

 

[cometdad2010]

I'm planning an October 2021 trip once we settle on our new resale contract (in ROFR now). If the restrictions stay in place, we're about 75-128 points short of what we want. I'm hesitantly looking into a second, smaller contract... we'll see how things end up.

 

[SL6827]

Makes me wonder if Disney will put a limit on banking at some point?

 

[CarolMN]

Could happen, but I doubt it will be necessary until the last few years of a resort's contact end date.

 

[jackieinJuneau]

Same situation, about 33 points short for what I would like to do for Dec 2021 very frustrating. Thinking about buying a small contract as others have mentioned but I am not sure. We can still go just more people in a room than I would like. Peak first world problems is what I keep reminding myself when I feel frustrated, lol.

 

[Grumpy by Birth]

Peak first world problems is what I keep reminding myself when I feel frustrated, lol.

 

[dvc at last !]

Funny!

 

[SNL]

It really makes no sense, if people are not going and banking points and they have so many rooms available why in the world wouldn't they let people borrow more than 50% and fill the rooms they have. We are in the same boat. We are going on Aug. 9th but could only get 4 nights and were not allowed to borrow any more than 50%. So in order to get just 4 nights I had to come out of pocket and buy 21 points at 19.00 each for 399.00 totally ridiculous when I have 100 points that they will not let us borrow. And I can not even buy more points for another night, if I want to pay cash it will cost me 902.00 more. Just Crazy !!!

 

[CarolMN]

Not everyone has had a chance to use their extended points just yet - the banked 2018 points that couldn't be used due to the closure. For example, those with a September use year won't be able to use their points originally banked from 2018 until the end of the September 2019 use year. So my guess is that they want members in that situation to actually have at least a chance at the availability that may be left in October & November (before the extended points expire on 11/30/2020). Members with October use years have even less of a chance than the earlier use years that were granted extended use for banked 2018 points.

August use years won't have access to their extended points until sometime after 8/1/2020, so the borrowing rule does make sense to me.

 

[SNL]

Sorry I am still not understanding it. I think the smart thing would have been very simple. The folks that had reservation's canceled should have been given all the points they used to book those reservation's back and added to the next upcoming use year for their contract as new and fresh points. Why cause havoc with all the members when not everyone was affected. If those people had 2018 points on the booking what is the big deal if Disney refreshes them to new status these people have lost their vacation and need the most benefit. But why hurt the rest of us ??

 

[SNL]

Another question, Can someone who had 2018 points and could not use them be able to transfer them ? I have a friend in this situation can he sell or transfer those points.

 

[CarolMN]

Another question, Can someone who had 2018 points and could not use them be able to transfer them ? I have a friend in this situation can he sell or transfer those points.

Banked points cannot be transferred.

Your friend could make a reservation for a stay that will end on or before 11/30/2020, and then rent/sell that, assuming he/she could find availability and a customer.

If he or she has an existing reservation that will occur prior to 11/30/2020 and it was made with 2019 or 2020 points, he/she could call MS and ask to substitute the banked points from 2018 into that reservation, and then the returned points would be valid until the end of the 2019 or 2020 use year and might be eligible to be banked, or if borrowed from 2021,could be returned to the original use year. That would depend on the use year and status of the returned points.

 

[Sandisw]

Sorry I am still not understanding it. I think the smart thing would have been very simple. The folks that had reservation's canceled should have been given all the points they used to book those reservation's back and added to the next upcoming use year for their contract as new and fresh points. Why cause havoc with all the members when not everyone was affected. If those people had 2018 points on the booking what is the big deal if Disney refreshes them to new status these people have lost their vacation and need the most benefit. But why hurt the rest of us ??

Unfortunately it can’t work that way. Points are attached to inventory and you simply can’t move forward all the points from 3 months of room closures without it having an impact on the system as a whole.

Therefore, the borrowing rule was put into play. Remember, with points based systems, the points are not attached to actual days, regardless if someone was booked during the actual time,

So, they had to figure out a way to deal with it both in short and long term as best they could.

 

[SNL]

I am sorry, I am a DVC Member since 2007 and I see changes that are not for the good of the members but only good for Disney. You speak about inventory and under normal circumstances that all make perfect sense, but Covid and resorts closing is not normal. I feel like Disney has dropped the ball on this one. What they should have done is thrown the rules out the window and made special considerations for the Members during these times. Instead all Disney cares about is how to minimize their losses. All those points that they will not allow to be banked from those people who lost their vacations will be lost and Disney will benefit from that. I understand what the rules were before Covid but why didn't Disney step up and take care of the Members. I was a absolute supporter of the whole DVC program but not so much anymore after this. Disney has made other changes with respect to resales that is now driving down the value of my contract and so many others. I am still holding out hope that this will all turn out well and I will once again be able to support Disney, but making me buy points at 19.00 each when I have 100 that I can take is 100% wrong period. I know a lot of others feel the same way and if more people complained then sales would start to drop and Disney would mend their ways. I may have 200 points for sale down the road.

 

[Sandisw]

I am sorry, I am a DVC Member since 2007 and I see changes that are not for the good of the members but only good for Disney. You speak about inventory and under normal circumstances that all make perfect sense, but Covid and resorts closing is not normal. I feel like Disney has dropped the ball on this one. What they should have done is thrown the rules out the window and made special considerations for the Members during these times. Instead all Disney cares about is how to minimize their losses. All those points that they will not allow to be banked from those people who lost their vacations will be lost and Disney will benefit from that. I understand what the rules were before Covid but why didn't Disney step up and take care of the Members. I was a absolute supporter of the whole DVC program but not so much anymore after this. Disney has made other changes with respect to resales that is now driving down the value of my contract and so many others. I am still holding out hope that this will all turn out well and I will once again be able to support Disney, but making me buy points at 19.00 each when I have 100 that I can take is 100% wrong period. I know a lot of others feel the same way and if more people complained then sales would start to drop and Disney would mend their ways. I may have 200 points for sale down the road.

Just remember, it’s not just rules, many of it is guided by the contracts and timeshare laws.

Not all owners are upset with the changes made and some of us believe what they did was more than fair, while still staying within the limits they needed to during this.

Now, the change in the product via resale is a different topic, but suspending banking and borrowing is allowed when things become out of whack.

Let’s just hope that a closure like this is a once in a lifetime even that we owners have to deal with.

 

[Raven01]

Well, fwiw, I adapted and was able to string together 3 nights in an AKL value, with 2 nights still in a standard for my March trip. I had to change the dates slightly. We change rooms, but it allowed me to have enough points for a standard 2 bedroom Dec 2021 for five nights, which was my goal.

My stalking worked! I’m hoping to adjust back to the original dates but am happy with my current arrangement.